NEWS & ADVICE : CREDIT CARDS
Credit card defaults rise to 17 percent
By Ankit Sharma
Dec 16, 2009
Print    Email    RSS   

The Centre disclosed that defaults in credit cards increased to Rs. 5,094 crore last fiscal as against Rs. 2,852 crore the previous year.

The Finance Minister, Pranab Mukherjee said that the bad debts accounted for 17 percent of the total outstanding against the cards as compared to 10 percent a year ago.

At the end of the fiscal 2008-09, there were 2.46 card holders in the country.

Maximum people held ICICI cards. ICICI cards constituted 30 percent (77.82 lakh)of the total followed by HDFC at 43.88 lakh.

Amongst the public lenders, State bank topped the list with 27.23 lakh card holders at the end of March 2009.

Amongst the foreign banks, Citibank issued maximum cards at 26.40 lakh, followed by HSBC at 19.75 lakh and Standard Chartered at 11.45 lakh.

Lenders have become cautious regarding credit cards. Recently ICICI announced that it would block all its credit cards in case of default on one.

 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Kisan Credit Card: Allowing easy credit...
Prevent yourself from cheque frauds
HDFC Bank sets up common phone banking no.
Carnival of Indian Personal Finance Blogs #5
Students Credit Cards in India


lnter caste love marriage specialist baba ji...
lnter caste love marriage specialist baba ji...
lnter caste love marriage specialist baba ji...
Call Girls in Chandigarh 09988559083 Call Girls...
2 days before deposited in my account but not...
Sizling Luxury Hot Escorts 08698693666 | 09921488433...

NEWS THIS WEEK
PMJDY event organized by Viajaya Bank at Pollachi Dec 19, 2014
IDBI bank to double up the number of banking branches Dec 18, 2014
Free fly to Singapore a new scheme by Axis bank Dec 17, 2014
ICICI bank introduced new Coral American express credit card Dec 15, 2014
Drop down in the ATM transactions Dec 12, 2014
News Archive